Registry Fund Investments
Deposit of Funds with the Court
Occasionally, it may be necessary to deposit funds into the Court. A court order is required before funds will be receipted into the registry. The negotiable instrument to be deposited into the registry should be made payable to Clerk, U.S. District Court. Third party checks are not accepted. Funds must be paid in U.S. currency drawn on a U.S. bank. The funds will be deposited into the registry fund of the Treasury unless governed by Fed.R.Civ.P67, directing funds to be deposited into an interest bearing account.
Funds Held in the Registry
Funds deposited directly into the Treasury will be held by the court referencing the case number and title. No interest is earned or accrued when held in the Treasury. The funds are disbursed by order of the court.
Disbursement of Funds
No funds in the registry may be disbursed except by court order and are subject to an administrative fee pursuant to General Order of the Judicial Conference. The administrative fee assessed is set at an annual rate of one-tenth of one percent of assets on deposit (ten basis points).
As per Local Rule 67.3 a proposed order for disbursement of funds must contain substantially the following language:
"The clerk is authorized and directed to draw a check (or checks) on the funds on deposit in the registry of this court in the principal amount of $__________ plus all interest earned less the assessment fee for the administration of funds, (or state other instructions regarding interest), payable to (Name and address of payee), and mail or deliver the check(s) to (payee or attorney) at (full address with zip code).